The S&P 500 Index ($SPX) (SPY) today is down -1.05%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.85%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.32%. June E-mini S&P futures (ESM25) are down -1.08%, and June E-mini Nasdaq futures (NQM25) are down -1.31%.
Stock indexes today are sharply lower, with the S&P 500 and Dow Jones Industrials falling to 2-week lows and the Nasdaq 100 dropping to a 1-1/2 week low. Stocks are being undercut by trade tensions and concerns about the fiscal outlook. Comments today from President Trump knocked Apple’s shares down more than -2% and weighed on technology stocks when he threatened 25% tariffs on Apple if the company’s iPhones were not made in the US. Losses in stock index futures accelerated today when President Trump threatened a 50% tariff on goods from the European Union starting on June 1, saying, “Our discussions with them on trade are going nowhere.”
